Final Review.docx - Chapter 6 MANAGERS The people who plan...

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Chapter 6 MANAGERS The people who plan, organize, lead, and control the operations of an organization. Responsible for business performance Effective—do the right things; achieve goals Efficient—do things right; lower costs Accountable to all key stakeholders Develop strategic and tactical plans Analyze competitive environments and plan, organize, direct, and control operations THE MANAGEMENT PROCESS MANAGEMENT The process of planning, organizing, leading, and controlling a business’s financial, physical, human, and information resources in order to achieve its goals. PLANNING That portion of a manager’s job concerned with deter- mining what the business needs to do and the best way to achieve it. ORGANIZING That portion of a manager’s job concerned with mobilizing the necessary resources to complete a particular task. LEADING (OR DIRECTING) That portion of a manager’s job concerned with guiding and motivating employees to meet the firm’s objectives. CONTROLLING That portion of a manager’s job concerned with monitoring the firm’s performance and, if necessary, acting to bring it in line with the firm’s goals. Types of Managers TOP MANAGERS Those managers responsible for a firm’s overall performance and effectiveness and for developing long-range plans for the company. MIDDLE MANAGERS Those managers responsible for implementing the decisions made by top managers. FIRST-LINE MANAGERS Those managers responsible for supervising the work of employees. Areas of Management Marketing Managers: development, pricing, promotion, and distribution of products and services Financial Managers: to oversee financial resources Operations Managers: responsible for company’s system for creating goods and services Human Resource Managers: hire employees, train them, evaluate their performance Information Managers: responsible for systems to gather, process, and disseminate information MANAGEMENT ROLES AND SKILLS 1. Managers work at an unrelenting (unending) pace 2. Their work is characterized by brevity, variety and fragmentation 3. They prefer live action and emphasized work activities that were current, specific and well-defined 4. They were attracted to verbal media TECHNICAL SKILLS Skills associated with performing specialized tasks within a firm. HUMAN RELATIONS SKILLS Skills in understanding and getting along with people. CONCEPTUAL SKILLS Abilities to think in the abstract, diagnose and analyze various situations, and see beyond the present situation. TIME MANAGEMENT SKILLS Skills associated with the productive use of time. DECISION-MAKING SKILLS Skills in defining problems and selecting. Steps in making decisions: Recognize and define the decision situation Identify alternatives 1
Evaluate the alternatives Select the best alternative Implement the chosen alternative Follow up and evaluate the results BEHAVIOURAL ASPECTSOF DECISION MAKING Organizational Politics The term organizational politics refers to the actions that people take as they try to get what they want.

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